As part of the company sale agreement, Koral, Abris Capital Partners and Bogusław Kowalski became partners of Captain Fresh, an Indian leading technology company engaged in building a global seafood supply chain. Captain Fresh is backed by international investors including Tiger Global Management, Prosus Ventures, British International Investment, Z47 (formerly Matrix Partners India), Accel, SBI Holdings, Evolvence Group, Ankur Capital and Incubate Fund.
Coral as a platform for salmon market development
Koral will become a platform for the development of the international salmon products market within the Captain Fresh group, in which Abris Capital Partners will take shares. Koral produces smoked salmon products, which are sold throughout Poland and abroad. The company has 26 production lines, processing 120 tons of fish daily. The transaction with Captain Fresh follows the early exit of Abris Capital Partners from its investment in Grail to German food company Müller Group in February 2023.
Kamil Gajdziński, investment manager at Abris Capital Partners, comments: “Captain Fresh's entry into Poland is further proof of the enormous potential of Central European enterprises and the growing appetite of international groups for investment opportunities in the region. We are glad that in Captain Fresh we have found the perfect partner who will take care of the company's international development and further consolidation in this sector.”
The transaction with Captain Fresh follows a seven-year investment period during which Koral consistently increased revenues and EBITDA. Abris Capital Partners acquired a majority stake in Graal and Koral in February 2017 in order to conduct a tender offer for 100% of the company's shares and then withdraw it from the Warsaw Stock Exchange.
Utham Gowda, Group Chief Executive Officer, Captain Fresh, summarizes: “We are pleased to welcome Koral to the Captain Fresh group. This acquisition is a strategic milestone in our mission to become the leading global seafood conglomerate. The European market is one of the most exciting opportunities in the seafood sector worldwide. Koral strengthens our previous acquisition of the French company Senecrus, adding new Polish and German retail brands to our portfolio. Koral's production capabilities in the smoking area now complement Senecrus' capabilities in the cooking area. We are also excited to mark our presence in the salmon value chain, which is one of the largest segments in the seafood industry. With experienced leaders Bogusław Kowalski and Justyna Frankowska at the helm of our global salmon strategy, we are preparing for the next phase of growth.”
What do we know about Abris and Captain Fresh
Assets managed by Abris Capital Partners amount to over EUR 1.2 billion. The value of Abris's financial involvement in such entities is usually EUR 30-70 million, with the aim of purchasing a majority share in the company. The investment commitment time is on average 3 to 5 years. The company invested in companies such as: Siódemka, Novago, Masterlease, CARGOUNIT, Velvet CARE, Scanmed, DOT2DOT and Patent Co. Abris's current investment projects in Poland include Alsendo, WDX and MatexLab.
Captain Fresh is a global company based in India, driving technological innovations in the traditional seafood industry. Captain Fresh offers a diverse product range, including over 100 varieties of fish and seafood, present in over 30 countries around the world. Through the strategic integration of sourcing, processing, distribution and retail, Captain Fresh is transforming the entire industry.
